The financial reports every cooperative Exco needs
An Exco that meets without reliable numbers is guessing. KoopManager produces the reports an Exco needs on demand from the society's live records, so the figures at the meeting are the figures in the system.
The problem: numbers nobody can trust at the table
Exco meetings depend on a few figures: are we in surplus, what do we owe, who is behind on repayments, who carries too much guarantee risk. When each comes from a different spreadsheet kept by a different officer, the numbers rarely agree and the meeting spends its time reconciling them.
Who feels it
- Officers receive reports late, or the night before, and two people may present different totals for the same thing.
- Problems such as overdue loans and heavily exposed guarantors are noticed only after they become defaults, and members and auditors cannot trace a figure back to its entries.
How KoopManager resolves it
KoopManager produces eight reports on demand: income and expenditure, balance sheet, trial balance, cash flow, loan book, guarantee exposure, member account balances and dividend analysis. Each can be exported for the meeting pack, and the balance sheet and trial balance show whether the books balance, so a ledger problem shows itself.
A simple routine: circulate income and expenditure, cash flow and the loan book before each meeting, review the balance sheet and guarantee exposure quarterly, and the rest at year end.
Related guides
- How to move a cooperative society from spreadsheets to software
- Cooperative loan guarantees explained
- How cooperative dividends work
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